How Glitzkoin could Bring Blood Diamond Existence to An End

pram001 (25)in #ico • 6 years ago (edited)

(image taken from : https://bit.ly/2FrrjvW)

Blood diamonds, the precious stones mined from conflict zones to fund various unethical activities such as financing terrorism, aggression, dictatorism have become a troublesome part of the diamond industry for a long time.

Since large portion of diamonds ever produced come from African country such as Angola, Ivory Coast, Congo, Sierra Lione, and much more, but the end customers belong to distant and wealthy countries like United States, Japan, and the like, it’s has been a very challenging efforts for law enforcement to curb the distribution of blood diamonds since the distribution of them involving inefficiently long and multi-layered supply chain processes.

Some efforts in the past were made to counter the proliferation of blood diamonds but ultimately led to a failure. Kimberley Process Certification Scheme, which founded in 2000 to prevent rough conflict diamonds entering mainstream marketplace cannot effectively fulfill its objective because it fails to identify which diamonds originated from conflict zones. Limitations of current technology used in the diamond industry cannot ensure the transparency and immutability necessary for the guaranteed diamond genuinity.

Glizkoin : The Once for All Solution to End Blood Diamond Existence

Blockchain, as a radical way to record data in a decentralized way is perfectly suitable for tracking purposes. In the case of conflict diamond detection, blockchain will provide records with high degree of certainty because it’s involving ultra secure cryptographic techniques and decentralization consensus which will render data modification impossible. Every step of diamond journey, from extraction to customer’s hands will be instantly recognizable in an immutable ledger so there will be no gap to sneak conflict diamond materials to the mainstream market.

Fraud attempts such as falsifying the certificate will be instantly detected and all people who involved on the forgery will be easily caught. Any attempts to smuggle raw diamond material of conflict diamonds origin to certificate forgery is not possible within the transparent and immutable record like blockchain, no matter how long and complicated the supply chain process is. When it is not possible to enter conflict diamonds into mainstream circulation, it will be hard to find buyers and the operation to mine conflict diamonds will cease to exist because it’s not profitable anymore, thus ending the existence of blood diamonds.

Glitzkoin, as a versatile diamond exchange platform that build on the stellar network offers much more than just immutability of records. It provides fast settlement and true decentralized marketplace for diamond traders from all over the world. Without caring about where traders come from, when they access the service, and what national currency they are using, they can directly trade diamonds in one safe marketplace with ease by using cryptocurrency, called Glitzkoin.

There will be no hassles to trade assured genuine diamonds like before (exuberant hidden fees, time consuming settlements, broker reliance, separated buying and shipment process) as Glitzkoin platform eliminates all the hassles in one single platform.

Please visit https://www.glitzkoin.com/ to invest now !

By investing in Glitzkoin, you are contributing in an effort to end blood diamonds existence !

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